I've been using Premiere Pro CS4 for three or four years. As I start to tackle more ambitious projects, I can see the value of the additional features in After Effects.
My typical project is a short sales or training video, shot against a green screen. I record audio separately and sync it in PP.
What is the most efficient way to take advantage of the AE feature set? Should I do my basic editing in PP, then do the rest of the editing (keying, titles, etc.) in AE? Or is it better to render in PP and create a fresh project in AE?
It sounds like the best thing to do would be to import your Premiere project into AE. That way your edit is maintained, but you have access to all of the original footage and cuts.
Then you can do your titles and compositing in After Effects, render a lossless (or near enough) intermediate and then render it out to your final deliverable in the Adobe Media Encoder. Alternatively, you can just send your AE composition directly to the Adobe Media Encoder.
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[Michael] It sounds like the best thing to do would be to import your Premiere project into AE. That way your edit is maintained, but you have access to all of the original footage and cuts.
That is what I do. Premiere is much better for editing your project and trying out different takes and adjusting the overall pacing of the video. For example, I cut this spot in premiere and then imported (dynamic link) the edited footage into AE and then did my rotoscoping, graphics, etc. to make the completed spot:
Watching the side by side of the spot will give you an idea what I'm talking about. Everything on the left side was put together in Premiere. Everything on the right side was then sent to AE and DaVinci Resolve to create the completed look.